PUNE, India, October 27, 2016 /PRNewswire/ --
The report "Automotive Drivetrain Market by Drive Type (AWD, RWD, FWD), Vehicle Type (Passenger car, LCV, Buses and Trucks), Electric Vehicle Drive type (BEV, PHEV, HEV), and Region - Global Forecast to 2021", the market is projected to grow at a CAGR of 6.18%, to reach a market size of USD 278.57 Billion by 2021.
Browse 78 market data Tables and 38 Figures spread through 140 Pages and in-depth TOC on "Automotive Drivetrain Market"
Early buyers will receive 10% customization on this report.
The market is driven by factors such as the increasing need for better acceleration, traction, and towing capabilities in vehicles and the growing demand for comfort and safety in vehicles.
"Increasing need for better acceleration, traction, and towing capabilities in vehicles is propelling the growth of the Automotive Drivetrain Market"
Towing capability, traction, and acceleration play a crucial role in Light Commercial Vehicles (LCVs) and Heavy Commercial Vehicles (HCVs). Generally, LCVs and HCVs are equipped with Rear Wheel Drive (RWD) for better towing capability. However, in terms of traction, All-Wheel Drive (AWD) systems are more effective than conventional RWD systems. Developments in the automotive drivetrain industry could lead to advanced drivetrain technology that meets the need for better acceleration and traction. The increasing need for better acceleration and traction has compelled Tier I companies to enhance the drivetrain system. The global demand for LCVs and HCVs is increasing at a promising rate; this is expected to drive the Automotive Drivetrain Market in the coming future.
"Growing demand for lightweight shafts to spur the growth of the Automotive Drivetrain Market"
The heavy, rigid shafts used in Sports Utility Vehicles (SUVs)/Multi-Utility Vehicles (MUVs)/Multi-Purpose Vehicles (MPVs), LCVs, and some big saloon sedans contribute to the weight of the vehicle. The automotive industry is witnessing a growing trend of lightweight hollow shafts. The forged construction of hollow shafts, along with their drilling and heat treatment, significantly reduces the weight of the shaft without compromising its torsional stiffness. These shafts are 15% to 30% lighter than their rigid counterparts. The lightweight shafts are generally equipped in hatchbacks and small and mid-size sedans. OEMs are exhibiting a growing inclination towards lightweight hollow shafts, and are using them in SUVs/MUVs/MPVs. The global trend of vehicle weight reduction will likely propel the demand for hollow shafts, as these shafts help reduce vehicle weight. Stringent emission norms and standards are also driving the market for lightweight hollow shafts, as they help reduce emissions and increase fuel efficiency.
"Asia-Pacific to be the largest market for automotive drivetrains"
Asia-Pacific is estimated to dominate the Automotive Drivetrain Market, and is projected to grow at the highest CAGR during the forecast period. The region has emerged as a hub for alternative fuel passenger cars in recent years, with China and Japan as the frontrunners. Governments in the region are also trying promote the sales of alternate fuel vehicles through incentives and tax deductions.
The Automotive Drivetrain Market is dominated by a few global players, and comprises several regional players. Some of the key manufacturers operating in the market are Aisin Seiki Co., Ltd (Japan), American Axle & Manufacturing (U.S.), BorgWarner Inc. (U.S.), GKN plc (U.K.), Magna International Inc. (Canada), Dana Holding Corporation (U.S.), JTEKT Corporation (Japan), Showa Corporation (Japan), and Schaeffler Group (Germany).
Browse related reports:
Automotive Transmission Market by Type (Automatic Manual, AMT, DCT, CVT), Vehicle Type (Passenger Car, LCV, HCV), Number of Forward Gears, Fuel, & by Region (Asia-Oceania, Europe, North America, RoW) - Global Trends and Forecast to 2020
Automotive Powertrain Market by Position (FWD, RWD, & AWD), Vehicle Type (Passenger Car, LCV, & HCV), Engine Type (Gasoline & Diesel) & Geography (Asia-Oceania, Europe, North America, & ROW) - Industry Trends & Forecast to 2019
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Subscribe Reports from Automotive and Transportation Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
Tel : 1-888-600-6441
Visit MarketsandMarkets Blog @ http://mnmblog.org/market-research/automotive-transportation
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets